ALSO Holding takes note that on March 26, 2013 the Board of Directors of Schindler Holding Ltd. decided to issue a listed bond which is exchangeable into its shares of ALSO Holding AG (a so-called exchangeable bond). Schindler Holding AG intends to issue the Exchangeable Bond for the ALSO shares that it holds within the next months, depending on the development of ALSO and the general economic environment. In case the bonds are exchanged it enables Schindler Holding Ltd. to entirely reduce its holding in ALSO Holding AG in the medium term. In addition, it will also substantially increase the free float in ALSO shares.
Schindler Holding Ltd. further announced that on March 22, 2013 the two main shareholders of ALSO Holding AG, Special Distribution Holding GmbH, a subsidiary of Droege International Group AG, and Schindler Holding Ltd. entered into a shareholder agreement which defines, inter alia, the representation of the parties on the Board of Directors of ALSO.
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